if want better return learn to invest in share market.. better potential and easier to sell and buy..

right tool for the right problem ma.
most of us in PRS for the tax relief, which is a 100% sure-thing VS share market.

... and i'm sure some of the PRS fellows are into stocks local/foreign, bonds, properties, etc too

It's called don't put all eggs into a single basket.

... and make sure your baskets are not in the same site/building too
risk management / business continuity planning 101

not yet receive here either. got in around Dec 2018, under AIA PRS.

Mine is PM PRE. Also not yet received. Also enrolled in Dec 18

i put in PRS under kenanga in Dec 2018.. not yet received the 1000 incentive too.. hope jun 2019 will received?

yup i put in also for tax relief. hahaha. if government really want to keep this up better make it a longer term in the income tax rather than just mess around giving few year relief only.

hi, PRS cannot withdraw until retirement age right? Unless you are willing to pay the penalty 8%?

penalty of 8% is only when withdraw before retirement age and only from sub account B only

both account and no penalty if at retirement age..

https://www.ppa.my/prs-and-you/prs-faq/#19b570d916ac5f650

oh i see, thanks thanks.

Is it worth to put in money to this PRS for the tax relief? If I am still far away from reaching the retirement age...

what is your tax bracket? how much taxes can you reduce paying if you buy RM3k?

i wanna ask for PRS.. the account B withdrawal tax penalty is 8% of the withdrawal amount?

because if let say i invest 3k for tax relief. my tax rebate is around 700+ at maximum bracket. so i already earn 700 back, then my 3k at 30% is around 900+, so i retrieve 900 from my account b kena 8% penalty which RM72, which is still untung.

Is my calculation correct?

This post has been edited by ben3003: Apr 30 2019, 10:38 AM

Penalties Pre-Retirement Withdrawals

Is the 8% tax applied to the full withdrawal amount or the net amount minus fees/ charges?
The tax penalty of 8% imposed on pre-retirement withdrawals would be applied on the full withdrawal amount.

meaning based in the total amount u have inside ur account? Cannot understand

I have no idea.
It was quoted from PPA website.
Email/Call PPA CS for clarification.

if you request to withdraw 5k, means charge 8% on the 5k la.
i think

still not yeet received the RM1000 incentive.. perhaps no more ady.. Enrolled Dec 2018.....

if that is the case, still ok la.. 8% is much less than the tax rebate i received.

The rm 1k incentive from who?